ACA Reporting Deadline Delayed

by Gregg Kennerly | Published Thursday, January 19, 2017

In mid-November, the Internal Revenue Service (IRS) issued Notice 2016-70, which extends the due date by 30 days for furnishing forms under Sections 6055 and 6056 for 2016 and extends good-faith transition relief from penalties related to 2016 Section 6055 and 6056 reporting. The IRS does not anticipate extending the deadlines or transition relief from penalties to reporting for 2017.

What Is Good-faith Transition Relief?

In determining good faith, the IRS will take into account whether a reporting entity made reasonable efforts to prepare for reporting the required information to the IRS and furnishing it to individuals (such as gathering and transmitting the necessary data to an agent to prepare the data for submission to the IRS or testing its ability to transmit information to the IRS).

Important Dates to Remember

The 2016 furnishing and reporting deadlines are as follows:

March 2, 2017—Newdeadline for furnishing 2016 Forms 1095-B and 1095-C to individuals

Feb. 28, 2017—Deadline for 2016 filing with the IRS in paper form

March 31, 2017—Deadline for 2016 filing with the IRS electronically

In his career, Gregg has developed specialized expertise in “consumer-driven” and high deductible health plans with HSA and HRA strategies, and sold the first HSA plans issued in Virginia through Assurant Health. He is an expert in analyzing plan design data and has served as account executive for national accounts such as Coca-Cola Enterprises and Tenet HealthCare. Gregg utilizes a strategic approach to establish goals based on each client’s unique culture and competitive environment, and measuring results against jointly established criteria.
Gregg Kennerly is a Principal at Advanced Benefit Strategies of Virginia, LLC.

Contact Info

Advanced Benefit Strategies of Virginia, LLC

Gregg Kennerly, Principal

Andrea Eggleston, Principal

Karen Bolstad, Senior Operations Director

Carol Watson, Senior Account Executive

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